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Rabigh Refining and Petrochemical Company (Petro Rabigh)
announced it un-audited financial results for the period ending 30/06/2010
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Rabigh Refining and Petrochemical Company (Petro Rabigh) announced it un-audited
financial results for the period ending 30/06/2010
as follows:
1.Net profit in the second quarter of 2010 was SAR 121.8 million, compared to SAR
236 million loss in the second quarter of 2009 and compared to a net profit of SAR
271.5 million for the first quarter of 2010 with a decrease of 55.1%.
2.Gross profit in the second quarter of 2010 was SAR 314.8 million, compared to
SAR 67.4 million loss in the second quarter of 2009.
3.Operational profit in the second quarter of 2010 was SAR 82.9 million, compared
to SAR 240.1 million loss in the second quarter of 2009.
4.Net profit during the first six months of 2010 was SAR 393.3 million, compared
to SAR 264.6 million loss in the first six months of 2009.
5.Profit per share during the first six months of 2010 was SAR 0.45 compared to
0.30 loss per share in the first six months of 2009.
6.Gross profit during the first six months of 2010 was SAR 474.3 million, compared
to SAR 39.7 million during the first six months of 2009 with an increase of 1094.7%.
7.Operational profit during the first six months of 2010 was SAR 33.2 million, compared
to SAR 279 million loss during the first six months of 2009.
8.The increase in net profits for the first six months of 2010 is due to the full
operation of all the plant units and the stability of production operations, compared
to the first six months of 2009 where most of the plant units were under pre-commissioning
phase. It should also
be noted that the total sales for June, 2010 have significantly
increased compared to previous months.
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